23 August 2014

Glo Xchange - Glo launches Nigeria's 1st Mobile Money Agent Network

Globacom yesterday launched the first mobile money super agent network called Glo Xchange. The Glo Xchange platform was officially launched in partnership with three licensed mobile money operators, FirstMonie, Ecobank and Stanbic IBTC in Lagos, western Nigeria.

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CBN Governor, Godwin Emefiele personally signed on the launch and described the mobile moneyinnovation as the beginning of a deeper collaboration between the financial sector and the telecommunications industry.

According to the Globacom’s Head of Corporate Sales, Mr. Kamal Shonibare, Glo Xchange will avail the mobile money sector of the much needed agent network across the entire country, as well as the technology platform required for seamless mobile money transactions.

The Glo Xchange will provide the partner banks on the project with the telecom company’s extensive network of 150 Glo World & Glo Zone shops, over 35,000 Glo Dealer and sub-dealer outlets and over 400 Conoil filling stations across the country. This will also leverage on the Association of Community Pharmacists of Nigeria (ACPN) with their over 7,000 outlets.

The partnering banks and Globacom will collaborate to ensure that mobile money reaches the critical mass of the people across the country, leveraging on the parties’ extensive retail market experience and customer-base to build an unprecedented mobile money distribution chain across Nigeria. This will reduce the physical movement of cash during business transactions in the economy.

The Glo Xchange offers a robust platform to provide mobile money service to both banked and unbanked Nigerians, enabling existing and potential customers of partner banks to carry out transactions under the three key areas of banking transactions – deposits, withdrawals and transfers.

Based on the agreement with the partner banks, Globacom will recruit mobile money agents, train them and also provide management services for the partner banks, making available its network infrastructure to support mobile financial transactions. Glo will also provide a dedicated helpline for customers to make inquiries about mobile money services.

The partnering banks will provide their mobile money platforms to Globacom’s mobile subscribers in compliance with the Central Bank of Nigeria’s policy on mobile money. They will also provide specialised trading platform and merchandising materials to the recruited agents while managing customer accounts and support services.

If you are interested in becoming part of the mobile money super agent network, you need to first register on Globacom as a mobile money agent and then get yourself accustomed to all you need to know and do to make the best out of the agent network. Registering as a mobile money agent with Globacom gives you access to excellent commissions, low cost of set-up, business and Marketing Support. Note: This is available ONLY on Glo SIM and phone.

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